The Third Circuit Court of Appeals recently upheld a trial court’s jury verdict finding the individual board members and officers of a non-profit healthcare facility personally liable to the facility’s creditors. The board...more

In a striking decision earlier this year, the 3rd Circuit Court of Appeals affirmed a jury’s findings of liability for breach of fiduciary duties and ‘deepening insolvency,’ and the award of $2.25 million in compensatory...more

Last month, the United States Court of Appeals for the Third Circuit issued an important, 28-page opinion that confirmed a jury verdict, holding former officers and directors of a not-for-profit health care provider in...more

A charitable corporation is more a trust than a corporation, a topic that is taken up in an earlier posting on this site. See http://www.jdsupra.com/legalnews/the-charitable-corporation-a-trust-in-d-90654/. In the case of a...more

While a minority of circuits, such as the Ninth Circuit (see, e.g., In re Lowenschuss, 67 F.3d 1394 (9th Cir. 1995), have reasoned that bankruptcy courts lack the authority to approve non-debtor releases based on the language...more

The Bankruptcy Code permits a trustee to avoid transfers of property that a debtor has made within two years prior to its bankruptcy filing. In 1998, Congress added a safe-harbor provision for contributions to qualified...more

Over the last few years, bankruptcy has reared its head in venues one never thought possible. From churches to education and health organizations and, most recently to local government, in the form of Detroit’s filing, one...more

A charity, fulfilling its charitable mission, is successful in raising money for a variety of worthy projects - rebuilding after a natural disaster, medical education and care, summer camp experiences for disadvantaged...more

In This Issue:
- (UK) The Validity Of Exit Consents Under English Law
- (UK) When A Charity Faces Financial Difficulty
- (UK) Are You At Risk From Financial Distress In Your Supply Chain?
- (Global Europe)...more

Sales of a debtor’s assets, either pursuant to section 363 of the Bankruptcy Code or through a confirmed chapter 11 plan of reorganization, have become increasingly common in recent years and are generally viewed as an...more

As widely reported, in the latest Lehman bankruptcy “fundraiser,” managers of the Lehman estate are now demanding millions of dollars from non-profit retirement homes, colleges and hospitals. Lehman claims that it was somehow...more

Originally published in the New Jersey Law Journal - Vol. 211 - No 5 Monday, February 4, 2013.
In 2012, a number of not-for-profit entities, including religious institutions, filed for bankruptcy relief in New Jersey....more

This New Hampshire Public Radio Broadcast features Bernstein Shur Attorney Andru Volinsky.
The on-going fight between the state of New Hampshire and one of the nation’s largest insurance risk pool managers is an...more

Is a bankrupt pledgor legally bound to fulfill its promise to pledge a gift; or will a nonprofit have a successful claim against a pledgor if there is a subsequent failure to make payment because of a bankruptcy filing? A...more

The Public Service Loan Forgiveness (PSLF) Program discharges any remaining debt after 10 years of full-time employment in public service. The borrower must have made 120 payments as part of the Direct Loan program in order...more

Recently, a federal appeals court in In re Lemington Home for the Aged revived claims brought by unsecured creditors against the directors and officers (D&Os) of the insolvent Lemington Home for the Aged when it reversed a...more

UST filed Motion to Disgorge Fees in Ch 7 (Middle District of Florida, Orlando). Hearing was held and attached is Memo which accompanied Judge Jenneman's ruling denying the UST's Motion. There was a third case in front of...more